Activision Blizzard, Inc. (NASDAQ: ATVI) (the “Company”) announced today
the completion of the syndication of a seven-year secured term loan
credit facility totaling $2.5 billion (“Term Loan B”). The Company
expects to also secure a revolving credit facility of $250 million. The
closing of the Term Loan B and the revolving credit facility are subject
to customary closing conditions.

The borrowings under the Term Loan B, along with the proceeds from the
issuance of the recently priced $2.25 billion aggregate principal amount
of senior unsecured notes, are expected to total $4.75 billion. The
weighted average interest rate for all such indebtedness is expected to
be less than 5%. The Term Loan B will be secured by certain of the
Company’s assets.

The Company intends to use the net proceeds of the Term Loan B, along
with cash on hand and proceeds from the notes offering to: (i) finance
the consideration to be paid by the Company to Vivendi S.A., a société
anonyme organized under the laws of France (and together with its
affiliates, “Vivendi”) in connection with the transactions contemplated
by the stock purchase agreement entered into on July 25, 2013 among the
Company, Vivendi and ASAC II LP, an exempted limited partnership
established under the laws of the Cayman Islands and acting by ASAC II
LLC, its general partner (the “Transactions”); and (ii) pay the
Company’s fees and expenses incurred in connection with the Transactions.

About Activision Blizzard:

CIO, CTO & Developer Resources

Activision Blizzard, Inc. is the world’s largest and most profitable
independent interactive entertainment publishing company. It develops
and publishes some of the most successful and beloved entertainment
franchises in any medium, including Call of Duty®, Skylanders®, World
of Warcraft®, StarCraft® and Diablo®. Headquartered in Santa
Monica California, it maintains operations throughout the United States,
Europe, and Asia. Activision Blizzard, Inc. develops and publishes games
on all leading interactive platforms and its games are available in most
countries around the world.

Forward-looking statements:

This press release contains forward-looking statements including, but
not limited to, those relating to the issuance of the notes, the
Transactions and the entry into, and interest rate to be agreed to
under, the Term Loan B and whether or not the Company will consummate
the issuance of notes or the other transactions described herein. The
forward-looking statements in this release are based upon information
available to the Company as of the date of this release, and the Company
assumes no obligation to update any such forward-looking statements.
Although these forward-looking statements are believed to be true when
made, they may ultimately prove to be incorrect. These statements are
not guarantees of the future performance of the Company and are subject
to risks, uncertainties and other factors, some of which are beyond its
control and may cause actual results to differ materially from current
expectations.

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